Are you struggling to recruit for your business? How much time would it save if you worked with someone who understood your recruitment needs? Have you considered retained search?
Attracting and hiring talent is not easy and in this article we discuss one of the most beneficial approaches to recruitment…. Retained Search and, in our opinion, the three key benefits of engaging in this recruitment method with a recruitment agency.
Retained search is a proactive recruitment method, which is also referred to, by some recruitment agencies, as ‘Headhunting’. This style of recruitment leads to a more partnership style of relationship with a recruitment agency, where a business engages with a single recruitment agency to help attract the best talent for their role.
Most businesses will engage multiple recruitment agencies to help attract talent with the successful agency being paid a fee upon completion. In a retained search a percentage of the agreed price is paid up-front with the remainder payable upon successful completion of the assignment. If the assignment is not completed, the payment is refunded.
Below we share why retained search is a far more beneficial to businesses and is more likely to get the results you are looking for...
1. Higher Priority
Due to the financial structure of a retained search, your role and your business become priority for the recruitment agency / recruitment consultant. Although engaging with multiple recruitment agencies to help you attract and hire for a position may sound like you are increasing your chances of a successful hire. By working with one agency and giving them exclusivity to work on your role gives that agency the ability to prioritise your role and work more proactively on your behalf and focus on finding the right candidate.
2. Less risk
Retained search offers a lower risk of a bad hire, as the level of focus your role has had from the recruitment agency and recruitment consultant is far greater. Retained search also allows the recruiter the time to share more in-depth analysis of the market and the talent available, plus they have more time to vet candidates before sharing with you.
Although some businesses are nervous about the idea of paying for a service upfront, you are only paying a certain percentage and if the process is not successful then the payment is refunded. So the way to think about it is, you are locking in the recruiter to deliver a better result, rather than thinking I am paying for something that may not materialise.
When you engage with multiple recruiting agencies to find a candidate for your role, those agencies want to fill that role as fast as they possibly can, creating a race to the finish line to be paid. So, often the outcome of this type of recruitment is speed over quality. Retained search gives you peace of mind that your role is priority.
3. More bespoke recruitment service
Due to the nature of retained search and the time and priority given to the role by the recruiter, the process can be made more bespoke for you and your business. So if there are particular steps in the process you want to remove, include or adapt then it can be done because you and your role are priority.
So in summary, by engaging with a recruitment agency and agreeing to recruit using a retained search model, all you are doing is securing the recruiters time and focus, increasing the chances of attracting the right candidates and reducing the amount of noise that comes with working with multiple recruitment agencies. We hope this article has helped and got you thinking about how it can benefit you and your business when attracting and hiring talent.
Looking to recruit for your team and want to try retained search with us?
If this article has convinced you to try retained search for your role, then get in touch. We have years’ of experience, not only in recruitment, but in retained search. Or if you want to get a bit more information about retained search, then you can easily speak to our friendly team of recruitment experts who can help you with any questions you have.
Want to find out more about our recruitment services?
We pride ourselves on our service and are always pushing boundaries to help improve this for our clients and candidates. We have relationships with thousands of great candidates across the construction, civils, rail, power and telecoms sectors. If you want to find out about our services in more detail and how we can help you and your business visit our Recruitment services page.